An estimated 55,000 businesses are expected to close down over the coming weeks and months, wiping out around 120,000 jobs in a country which already has a 24 percent unemployment rate, labor groups say.

If there were many businesses willing and able to pay the higher rent fees (and hire the resulting unemployed), this might make sense. But Spain's economy doesn't look that healthy. -- RF

Energy Crisis As Early As 2016Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline prices doubling within 18 months. For a commodity as critical to our standard of living as oil is, it only takes a small shortage to drive up the price.

States, in the name of austerity, have stopped providing prisoners with essential items including shoes, extra blankets and even toilet paper, while starting to charge them for electricity and room and board. Most prisoners and the families that struggle to support them are chronically short of money.

Price hikes to put pressure on pursesHousehold budgets will likely be squeezed this year with price hikes on a variety of products — from food to commodities — because manufacturers are set to boost prices to cope with the yen's continuing depreciation and increasing prices for raw materials.

British Banks Need to be Strengthened-- Lord Mervyn KingDespite outward signs of stability, Britain's financial system is not on the pink of health and looks incapable of withstanding another global financial crisis. This concern about British banks was raised by former governor of Bank of England, Lord Mervyn King, who warned that the banks in U.K. were not yet "entirely safe".

Welcome to the faceless future of bankingPeek into the future of bank branches and you won't see many bankers. In the years ahead—sooner rather than later—banks will continue to shutter their satellites and turn to other means to perform the services once done at the branches.